View: 411
Want create site? Find Free WordPress Themes and plugins.

Guideline for Creating a Paper Bitcoin Wallet

A paper wallet is one the most popular and safest options to store your bitcoins. But before we go into the details paper wallet, we’d want you to know what is a Bitcoin wallet and why do you need one.

Bitcoin Wallet:

A Bitcoin wallet is a digital wallet that is used to store coins and make transactions; similar to a traditional bank account.

The wallet consists of two keys: A public key and a private key.

  • Public key: Your address on which other users send coins to you.
  • Private key: Which you use to send bitcoins to others. They key is kept private and only the owner of the wallet knows about it.

The combination of public and private key is what makes a bitcoin transaction possible.

It is important that no one knows about your private key , otherwise, it would give some unwanted entities the access to your wallet, which puts your coins at the risk of theft.

So, if you are using an online or an offline wallet, you’ll be vulnerable to hacking/malware attacks as your keystrokes can easily be logged.

Moreover, a stolen PC or losing your hard drive means you can wave bye to your digital assets for good.

Utilized with care, a paper wallet can shield you against these possibilities.

What is a Paper Wallet?

A paper wallet consists of the public and private keys that make up the wallet in a documented form.

It often has a QR code, so that you can quickly scan it and add the keys into a wallet to perform a transaction.

The prime benefit of having a paper wallet is that it doesn’t store the keys digitally; making it immune to cyber-attacks or a hardware failure.

A downside of the paper wallet is that it’s delicate and must be kept away fire and water.

How to Create a Paper Wallet:

  • Open your favorite browser and go to BitAddress.org
  • After typing some random characters to create randomness, you will be presented with a QR code, a private key, and a public key.
  • Click the tab “paper wallet”
  • Select the number of addresses to generate
  • Click “generate” button for creating new wallets
  • Once the wallet is generated, print it out to make a hard copy
  • Make a note of public addresses
  • Scan the QR code in your Bitcoin app to start depositing funds

What Are Some Security Tips for Paper Wallet?

Due to the fact that these wallets are used to save large amounts of money, it’s necessary to take precautions and make it as secure as possible.

The list of some useful tips for protecting your bitcoin wallet (paper) includes:

  • Make sure no one sees you while creating a wallet
  • BitAdress uses an algorithm named BIP38 to support encryption of private keys. The algorithm utilizes two-factor authentication i.e. something you have (paper wallet) and a passphrase.
  • Use a clean operating system such as Ubuntu to eliminate the risk of a spyware monitoring your activity.
  • Laminate your wallet or store it in a sealed plastic bag to protect it from water/damp.
  • Store it in a locker to protect it from theft.

Follow these tips and your paper wallet would be safer than ever.

To make sure your wallet is safer than ever, read our tips on how to secure a Bitcoin wallet.

Did you find apk for android? You can find new Free Android Games and apps.

One thought on “Bitcoin Wallet – A Guideline for Creating a Paper Bitcoin Wallet

Leave a Reply

Type Comments Here

Your email address will not be published.

fourteen + 6 =

Share Your Toughts

View: 395

ICO Alerts: Five ICOs Ceased by Massachusetts for Selling Unregistered Securities

Want create site? Find Free WordPress Themes and plugins.

According to the new orders of Massachusetts, the state has halted five ICOs (Initial Coin Offerings) as it stated, that the firms behind them were selling unregistered securities.

Crypto ICO News

The officials of government found that they all of these companies defied the General Laws of the state, which describe securities as bonds, investment contracts and stocks, that assures a financial profit, as it’s clearly defined in the orders. This stoppage was a part of a bigger inquiry into token sales that are being conducted by the government of the state.

ICO world

Investigation Against Companies Selling Unregistered Securities

On Tuesday, after investigating each of the company, William Galvin (Massachusetts Secretary of State) has ordered 18moons, through platforms like Sparkco, Mattervest, and Pink Ribbon, to stop their ICO campaigns. Moreover, all of these companies are required to propose, in order to return funds to their investors within the period of 30 days. Additionally, the companies would have extra 45 days to return the funds.

According to the records, a list of all refunded investors who have paid back the company has to be provided by the startups as well. Despite the fact that the orders highlighted, that the campaigns will be permanently halted and won’t be allowed to sell unregistered or non-released securities within the Massachusetts state, still, all startups will have the ability to register its tokens as securities in the future.

On the other hand, companies that are under- investigation, according to the orders, these companies will be suspended until they completely follow the orders. Though, if any company fails to obey any of the terms in the Division’s Order, then a legal action will be taken by the Enforcement Section.

No Response from Companies

The companies haven’t commented or responded to any of the questions so far. The head of SEC, Jay Clayton wanted cryptocurrencies to be regulated just like regular securities, as there was a possibility that at least few of the state officials would settle on it. But still, the doubt exists that there are many bandwagoners in the ICO world who don’t comprehend very much about the financial regulation.

Such moves can solely do so much, especially when there aren’t plenty of guidelines surrounding ICOs, however, they can lead some of the companies to have a second thought before hastening.

The latest step of Massachusetts on the ICO front is represented by its advancement and progress. At the beginning of this year, a suit was filed by the state against an ICO director and his company, claiming that the token sale represents an unregistered security offering.

Did you find apk for android? You can find new Free Android Games and apps.
View: 384

Longfin Stock Value Drops Below 30% After SEC Announces Investigation

Want create site? Find Free WordPress Themes and plugins.

After the US SEC (Securities and Exchanges Commission) announced that it’s starting an investigation, the stock value of Longfin (fintech firm) has dropped below 30%.

According to a report, on 2nd April, Longfin divulged the investigation in a public 10-K filing to the Securities and Exchanges Commission. Longfin is among the NASDAQ-listed fintech companies and its market cap shot-up above 1,000 percent in last December, within only 2-days.

finetech companies

Investigation By SEC

On 5th March, Longfin was informed by the Division of Enforcement of SEC that they will be investigating transactions in the company’s shares and also demanded the documents related to its IPO and acquisition of Ziddu.com. Ziddu.com is a firm that focuses on smart contracts and micro-lending via blockchain technology.

In the 10-K filing, Longfin showed that its aim is to cooperate with the SEC investigations. The document says:

“We are in the process of responding to this document request and will cooperate with the SEC in connection with its investigation. While the SEC is trying to determine whether there have been any violations of the federal securities laws, the investigation does not mean that the SEC has concluded that anyone has violated the law.”

What does Venkat Meenavalli have to say about it?

CEO of Longfin, Venkat Meenavalli also acknowledged this gigantic spike in stock value last December, as he stated:

“This market cap is not justified. I valued my IPO pricing at $5.” He also added:

“We are a profitable company… We have nothing to do with this euphoric mania.”

The stock value plunged really quick after an adverse tweet was posted by a well-known short-seller, Andrew Left’s Citron Research and news that the FTSE Russell was considering to eradicate Longfin from its benchmark Russell indexes due to inadequate free-floating shares.

As for the negative view of Citron, Meenavalli said:

“We are going to take legal action after we file the 10-K” and added, “The company is a profitable company, making revenue.”

Also, at the beginning of this year, the SEC reported that it’s going to start an investigation on companies that are using public enthusiasm and blockchain technology to deploy their stock prices.

Did you find apk for android? You can find new Free Android Games and apps.
View: 403

How to Buy Bitcoin In 2017

Want create site? Find Free WordPress Themes and plugins.

How to Buy Bitcoin

Buying Bitcoin is simple and painless. All you need is a digital wallet as, without it, it’s impossible to buy and store Bitcoin.

A Bitcoin wallet is used for the same purpose as a traditional bank account for storing fiat currency.

Once you have the wallet, you will need to follow a simple process in order to buy the coins. Here, we have discussed how to buy bitcoins. So read carefully.

Buying Bitcoin – Getting Started:

There is a large number of brokers, exchanges, sellers and wallet providers, etc. selling Bitcoin. However, not all of them are reliable. Some are just there to steal your money.

To avoid theft, you should always look for well reputed and renowned names to make the purchase.

The Bitcoin exchanges require the users to provide their personal information – which may also include your photo and a copy of ID – to prevent theft.

Once your account is functional, you are ready to buy bitcoins instantly.

Buying Bitcoin with Debit/Card Instantly:

Buying bitcoins via debit/credit card is one of the easiest approaches out there. However, due to the complex transaction process, the fees can be high.

As a bitcoin buyer, you will come across numerous companies offering their services, but only a few of them are trustworthy.

Down below is a list of most trusted names that accept credit/debit cards and sell instant bitcoins.

Coinbase:

With the presence in over 30 countries, Coinbase is the largest bitcoin broker in the world.

Coinbase offers instant buy option, but to buy the coins instantly, you will need to provide your identity proof and bank card.

Coinbase users are normally categorized into two levels: level 1 users and level 2 users.

Level 1 users are the fully verified users and can buy up to $1k worth of bitcoin per week.

While level 2 users can only buy up to $100 worth of bitcoin per week.

Moreover, Coinbase only charges 3.99% in transaction fees which are pretty low compared to other exchanges.

Find out more about how to buy bitcoins via Coinbase safely right here.

CoinMama:

  • Offers instant bitcoins to debit/credit card users
  • Charges 5% in transaction fees and particularly good for those who buy in bulk.
  • Offers special packages to verified users as they can buy up to $5k worth of bitcoins per day and up to $20k per month.

BitPanda:

BitPanda is an Austrian exchange and is one of the most renowned across Europe.

The features of BitPanda include:

  • Instant bitcoin purchase through credit/debit card
  • Low fees. Just around 3-4%.
  • The buyers are required to go through a strict verification process.

A downside of BitPanda is that the fees are not mentioned on their site. If a user wants to know the fees, he must register an order first.

Some Other Ways to Buy Bitcoin:

Buyers who don’t have credit/debit card can also buy bitcoins through LocalBitcoins.com. All you have to do is enter your nearest area and arrange to meet up with a seller. However, make sure your meetup is in a public place to avoid any potential harm that the seller may possess for you.

Did you find apk for android? You can find new Free Android Games and apps.
View: 404

Deloitte Leader Resigns to Join Blockchain–based Startup

Want create site? Find Free WordPress Themes and plugins.

According to a report, Eric Piscini — a former leader of Global Blockchain and a partner at Deloitte has left the company. Piscini is going to join the blockchain startup, Citizens Reserve in order to transfer supply chain networks to a blockchain.

Blockchain leader

Piscini is the one who helped in building a global blockchain practice. The startup that he is going to join is at its early-stage, and it is currently raising $300 million. This startup is a shared database, which is designed to work on all levels of a supply chain.

New Cryptocurrency — ZERV

A new cryptocurrency, ZERV has been developed within the project, using the ERC20 token. According to a report, the cryptocurrency will be used by the group members for accessing the blockchain — it will allow them to implement virtually instant borderless transactions.

  • The cryptocurrency, ZERV, is also considered as a utility token.
  • It allows users to exchange services within the platforms.
  • This digital currency comprises a third element — it sets it apart from other ECR20 tokens.
  • The reserve assets are intended to fund the token a certain value of $0.01.
  • Reportedly, 100 billion tokens will be issued to the value of $1 billion.

So, let’s enlighten you about the platform — it is based on the public Ethereum blockchain with smart contracts that consist of self-executing code — which could be implemented by using multiple private blockchain solutions. However, the contracts will be limited for a long period of time and it is expected that the transactions of cryptocurrency will be conducted any time soon.

According to Piscini:

“We are building the Ethereum of supply chain… The private blockchain is more for supply chain transactions, and the public blockchain is used for payments. There is a bridge that we created that is kind of our secret sauce.”

Reports also show that 85% of the funds that were involved in the token presale will be utilized in purchasing assets that will sponsor the tokens. Out of the total funds, 30% that were raised after the round gets closed will be issued to the users through a mechanism that is designed to stimulate and encourage the creation of the new supply chain services on its platform. It is expected that the Citizens Reserve will be launched in July 2018, however, Piscini didn’t disclose the names of the related group members, as he said that Citizen Reserve is going to work with three organizations — these organizations are providing software to the defense industry supply chain at this time — in a centralized manner.

The decision of blockchain leader, Piscini, is amid an exodus of top executives from the financial companies and traditional tech to cryptocurrency and blockchain. David Marcus left Facebook and Paypal as he was appointed to the exchange Coinbase – as a board of directors.

The co-founder of Coinbase, Brian Armstrong said, the knowledge of Marcus for both mobile space and payments is the main thing that would help as a guide for the platform to go forward. The CFO of Commonwealth Bank of Australia has also quitted to join Block.one, which is an EOS token developer.

Did you find apk for android? You can find new Free Android Games and apps.
View: 445

Why Bitcoin Rose More than $1000 in the Last Two Months

Want create site? Find Free WordPress Themes and plugins.

Summary

Bitcoin has become the world’s most popular digital currency, which had driven its value to incredible new heights. Here we have outlined a few reasons as to what lead the cryptocurrency to these altitudes.

Despicable Performance:

2017 has turned out to be quite a year for Bitcoin. The network recently went through a fork situation and came back with a bang. Bitcoin discussions seem to have taken over every town now, with everyone from Economist to Forbes covering it on a daily basis. Can we just remember that the year isn’t even over yet and Bitcoin has already made so many major stories!

Generally, Bitcoin is gradually climbing up and there have been predictions for even higher marks in the future. Ever wonder how something that was initially linked to the darknet could possibly change the future of transactions and payment systems?

Bitcoin has been in the industry for around 10 years, and just like everything else it started from the bottom and gradually rose to popularity. Starting off with a gradual increase from 2012 all the way through 2016, following a much more dramatic gush that is still continuing right now. What seems to play a role all these years, is longevity.

An overview of bitcoin’s price trend was shown in a tweet made by a cryptocurrency researcher known as “Jack Sparrow”.

Bitcoin was created in 2009 and it took around 7 years for it to reach a $2000 mark. Although, that same increase from $2000 to $4000 took just a little over 3 months.

Related:

Bitcoin hitting $3260 two weeks after split

Bitcoin Sky-rockets above $4000 

Growing Confidence:

The reason behind these high notes is the bitcoin investment trusts of various major institutions. Firms like Goldman Sachs, Fidelity Investments, and J.P. Morgan are now doing business with digital currencies. Countries like Japan, China, and Australia have legalized the use of the cryptocurrencies in their economy as well and that has been known to drive the digital currency to great new heights.

Due to the support shown by large organizations, smaller businesses along with individual financial investors have gained confidence in the cryptocurrency.

Moreover, the growing popularity of bitcoin has led to several institutions in the financial, as well as educational sectors to utilize the blockchain network for their own benefits. This, in turn, has given the cryptocurrency a boost as well.

We are not sure yet if we’re floating towards a future that is completely digitalized but, we do know that Bitcoin has several hurdles to overcome before it can completely alter our community. Nonetheless, these digital currencies are definitely on the rise.

 

Story Credits: futurism.com

Image Credits: bitnovosti.com

 

Did you find apk for android? You can find new Free Android Games and apps.